Springtide

In November 2020, Springtide announced a Series A financing of $18.1 million. Springtide is an an interdisciplinary multi-site practice treating children with autism spectrum disorder. The Company’s in-center care experience provides a coordinated, tech-enabled wrap-around for families who want their children to get all of their care in one setting.

Somatus

In June 2020, Somatus announced a Series C round financing of $64 million. Focused on value-based kidney care, Somatus partners with leading health plans, health systems, and nephrology and primary care groups to provide integrated care for patients with or at risk of developing kidney disease.

LetsGetChecked

In May 2020, LetsGetChecked announced a Series C round financing of $70 million. LetsGetChecked is a health insights company that allows consumers direct access to a wide range of testing options and clinical services from home. By combining health data and diagnostic results, LetsGetChecked provides rich health insights to enable better healthcare decision-making, empowering people to take an active role in their health.

Ready Responders

In March 2020, Ready Responders announced a Series B round financing of $48 million. Ready Responders is a home-based care company that provides urgent care, care transitions, and community-based care management for high-cost/high-need patients leveraging a combination of field-based EMTs, paramedics and RNs supported by NPs and MDs via ipad/telehealth.

RubiconMD

In March 2020, RubiconMD announced an $18 million Series C financing led by Deerfield. The Company is a digital tele-consult service for primary care physicians seeking consults from specialists. Through its platform, RubiconMD enables the remote exchange of insights between clinicians that eliminates unnecessary referrals and services, reduces patient wait time and travel burdens, and allows primary care physicians to practice at the top of their license.

Vesta Healthcare

In January 2020, Vesta Healthcare announced a $30 million Series A financing co-led by Deerfield. The Company is a 24/7 technology and clinical services organization dedicated to supporting caregivers and connecting their insights to the rest of the care team. Vesta Healthcare identifies the need for additional support in the home and provides 24/7 telehealth support for caregivers and care recipients, with a focus on high-need, frail senior populations. The Vesta program partners with home care, health plans and providers to create value-based population health programs that emphasize clinical quality, improved health outcomes and personalized engagement.

ReMed

ReMed, founded in 1984, is a leading operator of rehabilitation facilities that provides short and long-term outpatient and community-based services for people with Acquired Brain Injury (ABI). With approximately 3.4 million ABI cases reported per year, the industry lacks treatment options that allow for independent living.

Quartet Health

In December 2017 Deerfield participated in a $40 million Series C financing round for Quartet Health, a tech-enabled healthcare company that brings together physicians, mental health providers and payors to improve patient outcomes and lower healthcare costs. Quartet will use the new capital to expand its core engineering and product capabilities across its primary care, behavioral health and patient platforms, scale its machine learning team, and continue to build out its provider network, partner success and new business development functions.

Deerfield Management Completes Acquisition of Adeptus Health

New York, New York – October 2, 2017 – Deerfield Management announces its acquisition of reorganized Adeptus Health and commits to a long-term partnership that builds upon the delivery of high quality, expeditious emergency care at fair costs to communities nationwide.  Deerfield is a 23-year-old healthcare investment firm focused on advancing healthcare through investment, information and philanthropy. With a customized strategy and collaborative team process, Deerfield will expand the value of this partnership beyond capital to seek an evolved healthcare service paradigm that better aligns with patient and industry needs.

Adeptus is a leader in emergency care delivering excellent patient experiences.   Its team has a proven ability to identify, purchase, build, equip, stock and operate new locations while also integrating its model within hospital networks to improve patient outcomes, lowering cost to the healthcare system and leveraging other network assets for partners.   Its unique site model and ability to staff locations, provides a strengthened alignment between clinicians and Adeptus’s practices.

The collaboration between the Adeptus team and Deerfield’s investment, operational and market research teams, will allow the company to seek continuous improvement and innovation in their freestanding, and fully equipped emergency rooms.  Together, we plan to further integrate within hospital networks, to ultimately increase the accessibility of quality of care to patients and provide momentum for healthcare’s future in value based payment models.

“Deerfield is excited to join with the Adeptus team in its mission to provide the highest quality medical care both in the communities currently served and those we will endeavor to serve in the future,” stated Alex Karnal, Partner and Portfolio Manager at Deerfield Management Company. “The Adeptus team has proven its resiliency, creativity, and close connection through this difficult time and I am excited for them to get back to what they do best, caring for patients.”

Adeptus has been and will remain a first line of defense for emergency care, delivering high quality outcomes and convenient access to the communities it serves.  While patient care will remain in the hands of the board-certified physicians and emergency trained registered nurses administering treatment, Deerfield will provide oversight and support to leverage Adeptus’ work to new markets, with a continued commitment to the quality of patient care for families, neighbors and employees in its communities.

Immediately following the emergence from bankruptcy, Frank Williams, who had served as the Chief Financial Officer of Adeptus Health Inc. (dissolved in connection with the reorganization) was appointed the new Chief Executive Officer at reorganized Adeptus.  While Gregory W. Scott, formerly the Chairman and Interim Chief Executive Officer of Adeptus Health Inc., was appointed the new Executive Chairman at Adeptus.  Both Mr. Williams and Mr. Scott will continue to leverage their vast leadership experience to strengthen and grow the business forward. 

“We are excited to collaborate with Deerfield,” remarked Mr. Williams.  “Through leveraging Deerfield’s operational expertise, data analytics and expansion capital, we could potentially grow into 1 to 2 new markets per year, greatly expanding our network of care over the next five years to match patient demand.”

About Adeptus

Adeptus Health is a leading patient-centered healthcare organization expanding access to the highest quality emergency medical care through its network of freestanding emergency rooms and partnerships with premier healthcare providers. For more information, please visit www.adpt.com.

About Deerfield

Deerfield is an investment management firm committed to advancing healthcare through investment, information and philanthropy.

For more information, please visit www.deerfield.com

Contacts

Deerfield Management Company
Karen Heidelberger, 212-551-1600
[email protected]

Adeptus Health and Deerfield Join Forces to Enable High Quality Emergency Care

New York, New York – April 19, 2017 – Deerfield Management announced its plan to acquire Adeptus Health with a long-term commitment to the delivery of high quality, efficient emergency care.  Deerfield is a 23 year-old firm focused on advancing healthcare through investment, information, and philanthropy.  With over $8 billion in assets, and industry leading investment, operations, and market research teams, Deerfield brings to Adeptus highly relevant expertise in addition to expansion capital. 

“Adeptus is uniquely positioned to change the healthcare services delivery paradigm by providing access to emergency care in settings that are both efficient and of the highest quality, “ stated Jim Flynn, Managing Partner of Deerfield Management. “This is of increasing importance as healthcare systems evolve to meet the demands of patients.  Our goal is to be the best provider we can be on behalf of our hospital venture partners and the communities we serve.”

“We are excited about partnering with Deerfield to help us continue caring for our patients and improving our business.  Deerfield brings a flexible combination of expertise, capital and a passion for quality healthcare that offers the potential to fundamentally elevate our business,” stated Gregory W. Scott, Chairman & Interim Chief Executive Officer of Adeptus Health. 

Adeptus has been and will remain the first line of defense for emergency healthcare, with high quality outcomes and convenient access for all the families, neighbors, and employees in its communities.   Adeptus will strive to serve its many constituencies by delivering an excellent patient experience, fostering a well-supported work environment and engaging collaboratively with its hospital partners to improve local healthcare communities.  The facilities are innovative, freestanding, and fully-equipped emergency rooms with state of the art diagnostic technology (CT Scanners, Ultrasound, and Digital X-ray) and on-site labs. Furthermore, each facility is staffed with board-certified physicians and emergency trained registered nurses.

The consummation of Deerfield’s acquisition of Adeptus is subject to customary conditions, including bankruptcy court approval of Adeptus Health’s plan of reorganization.

About Adeptus

Adeptus Health (NYSE:ADPT) is a leading patient-centered healthcare organization expanding access to the highest quality emergency medical care through its network of freestanding emergency rooms and partnerships with premier healthcare providers. For more information, please visit www.adpt.com.

About Deerfield

Deerfield is an investment management firm committed to advancing healthcare through investment, information and philanthropy.

For more information, please visit www.deerfield.com

Contacts

Deerfield Management Company
Karen Heidelberger, 212-692-7140
[email protected]